Why select Standard Life?
Investment choice, value, service
Earlier this year Standard Life were delighted to be appointed as
the Kingfisher Plc, money purchase pension provider. So how did the
Kingfisher board of Trustees make this decision?
The Trustees went through a rigorous tender and selection process,
considering a number of pension providers along the way. The final
decision was made based on the providers’ ability to deliver
in 3 areas:
1. Investment choice
Whilst it was always the Trustees’ intention to offer a small
number of suitable funds for scheme members to choose from, the ability
of the Trustees to select the fund range from a wide choice of internally
and externally managed funds, was very important. In addition, the
ability to tailor the selection of funds so they were suitable to
the needs of the members was essential.
The Standard Life sigma pension fund range gives access to over 60
such funds from 14 fund managers. This level of choice plus the ability
to add a ‘UK Gilt Tracker’ fund to the range on the Trustees’ request
was an important factor in the selection process.
2. Value
Standard Life’s strong brand and reputation as a pensions provider
was also considered. The scale of Standard Life’s operation
also allowed special terms to be set, which means that more of each
member’s money goes towards their retirement fund.
Standard Life is also able to offer a range of technology based solutions
for Kingfisher and their members. All members will have the opportunity
to view general information about Standard Life’s investment
funds on line and also to request information about their individual
pension funds by phone.
3. Service
Since Kingfisher administers its other pension arrangements ‘in
house’, Kingfisher had to be absolutely sure that the new provider
could work closely with them to implement the new arrangement within
some pretty tight deadlines. A Standard Life Customer Relationship
manager was appointed to draw up a project plan that took us through
the implementation stage and onto a ‘business as usual’ basis.
The Kingfisher Trustees had confidence in the Standard Life proposition
and that confidence has been repaid with a smooth implementation
of the new arrangement within the deadlines agreed.
Moving on from here, ongoing communication with the members will
be important, ensuring that everyone understands the benefits of
being a member of their employer sponsored pension plan and the importance
of reviewing how individual plans are progressing in line with their
retirement income requirements.
Our employee communication consultants are liaising with Kingfisher
Plc to establish the most appropriate means of doing this.
What does this mean for members?
Standard Life places a great deal of importance on getting members’ money
to work hard for them and providing:
• Investment solutions in an accessible format
• First class customer service
• Flexible, tailored administration
• A financial future in good hands
• A flexible, competitive charging structure
For further information contact us at:
www.standardlife.co.uk
The Standard Life Assurance Company* is a mutual
company registered in Scotland (no SZ4) Head Office Standard Life
House 30 Lothian Road Edinburgh EH1 2DH Tel (0131) 225 2552 Standard
Life may record and monitor telephone calls to help improve customer
service.
The Standard Life group includes Standard Life Pension Funds Limited*
SLTM Limited* Standard Life Investments (Mutual Funds) Limited*
*Authorised and regulated by the Financial Services Authority
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